The Court of Appeal in Lagos has postponed the hearing of the appeal filed by Cletus Ibeto, Chairman of Ibeto Energy Development Company, challenging the jurisdiction of the State High Court in an alleged N4.8 billion fraud case. The adjournment, until September 16, was to await the outcome of settlement talks between Ibeto and the Economic and Financial Crimes Commission (EFCC).
Ibeto, along with his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, faces charges of conspiracy, fraud, forgery, and fraudulent use of documents. The case originated from the Lagos High Court, where Ibeto’s repeated failure to appear led to an arrest order by Justice Ismail Ijelu.
Despite Ibeto’s appeal and allegations of bias against Justice Ijelu, the case was transferred to a new trial judge, Justice Oyindamola Ogala. At the recent appeal court session, the bench warrant against Ibeto was suspended as both parties reported progress in settlement discussions, with Ibeto already refunding N1.7 billion to the EFCC.
Acknowledging the ongoing negotiations, the Appeal Court encouraged the parties to continue their efforts until the next scheduled hearing in September, indicating a suspension of the warrant until then.
